BackDROP Example

The BackDROP is available to general state employees in the MSEP and the MSEP 2000. The following example provides a comparison of four key elements regarding your BackDROP election:

total service

final average pay

total monthly benefit

lump sum payment

The example reflects the benefit for a member electing the Life Income Annuity benefit payment option in the MSEP 2000. If a joint and survivor option or guaranteed payment option is chosen, the monthly benefit would be reduced accordingly.

Total Service*

Final Average Pay

Monthly Benefit**

Lump Sum Payment

No BackDROP35 yrs 6 mos

$2,442.96

$2,168.13

Not Available

1 year BackDROP34 yrs 6 mos

$2,373.31

$2,093.61

$22,107.38

2 year BackDROP33 yrs 6 mos

$2,283.92

$2,006.84

$41,849.24

3 year BackDROP32 yrs 6 mos

$2,195.91

$1,922.65

$59,362.63

4 year BackDROP31 yrs 6 mos

$2,093.04

$1,814.02

$73,809.90

5 year BackDROP30 yrs 6 mos

$2,002.37

$1,710.99

$86,107.54

*Includes unused sick leave.**Includes a temporary benefit which stops at age 62.